IASbaba Daily Prelims Quiz
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The Current Affairs questions are based on sources like ‘The Hindu’, ‘Indian Express’ and ‘PIB’, which are very important sources for UPSC Prelims Exam. The questions are focused on both the concepts and facts. The topics covered here are generally different from what is being covered under ‘Daily Current Affairs/Daily News Analysis (DNA) and Daily Static Quiz’ to avoid duplication. The questions would be published from Monday to Saturday before 2 PM. One should not spend more than 10 minutes on this initiative.
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Question 1 of 5
1. Question
Consider the following statements about Global Depository Receipt (GDR)
- GDRs are negotiable financial instruments traded on the stock exchanges like any other security.
- GDRs are instruments denominated in domestic currencies.
- Indian companies can access foreign funds through GDRs.
Choose the correct statements:
Correct
Solution (d)
Statement Analysis
Option a Correct · It is a foreign currency-denominated negotiable financial instrument issued by a depositary bank. · GDRs are certificates issued by a depository bank, which purchases foreign company shares and deposits them in the account.
· GDRs are commonly used to raise capital from international investors through public stock offerings or private placement.
Purpose:
· Indian companies can only get their shares listed on foreign exchanges through Global Depository Receipts (GDR).
· GDRs help Indian companies get foreign funds and gain access to international capital.
· The depository bank is the intermediary that acts as the custodian of the shares issued by the Indian company.
· The depository bank can convert GDRs into shares and trade them on the domestic stock exchanges.
· GDRs are instruments denominated in foreign currencies. The shares are denominated in the deposit receipt issuer’s local currency.
· The value of a GDR depends on the value of the underlying share.
· GDRs are issued to investors throughout the country since they can be denominated as multiple forms of freely convertible currency.
· Only companies with a three-year sound financial record can get access to GDRs.
· Thus, Indian companies should get clearance from the Ministry of Finance and Foreign Investment Promotion Board (FIPB) to obtain GDRs.
Context: Tata Consumer Products recently said that it will delist its global depository receipts (GDRs) from the London Stock Exchange and Luxembourg Stock Exchange.
Incorrect
Solution (d)
Statement Analysis
Option a Correct · It is a foreign currency-denominated negotiable financial instrument issued by a depositary bank. · GDRs are certificates issued by a depository bank, which purchases foreign company shares and deposits them in the account.
· GDRs are commonly used to raise capital from international investors through public stock offerings or private placement.
Purpose:
· Indian companies can only get their shares listed on foreign exchanges through Global Depository Receipts (GDR).
· GDRs help Indian companies get foreign funds and gain access to international capital.
· The depository bank is the intermediary that acts as the custodian of the shares issued by the Indian company.
· The depository bank can convert GDRs into shares and trade them on the domestic stock exchanges.
· GDRs are instruments denominated in foreign currencies. The shares are denominated in the deposit receipt issuer’s local currency.
· The value of a GDR depends on the value of the underlying share.
· GDRs are issued to investors throughout the country since they can be denominated as multiple forms of freely convertible currency.
· Only companies with a three-year sound financial record can get access to GDRs.
· Thus, Indian companies should get clearance from the Ministry of Finance and Foreign Investment Promotion Board (FIPB) to obtain GDRs.
Context: Tata Consumer Products recently said that it will delist its global depository receipts (GDRs) from the London Stock Exchange and Luxembourg Stock Exchange.
-
Question 2 of 5
2. Question
Consider the following statements about Spitzer Telescope
- Spitzer was designed to detect infrared radiation, which is primarily heat radiation.
- It is the final mission in NASA’s Great Observatories Program.
- Spitzer Resurrection Mission aims to send a spacecraft to Spitzer to service and restore its operation.
Choose the correct statements:
Correct
Solution (a)
Statement Analysis
Statement 1 Statement 2 Statement 3 Correct Correct Correct · Spitzer was designed to detect infrared radiation, which is primarily heat radiation. · It allows to peer into regions of space that are hidden from optical telescopes.
· It was launched in 2003 by NASA, U.S.
· It was comprised of two major components:
· The Cryogenic Telescope Assembly – contained the 85 centimeter telescope and Spitzer’s three scientific instruments.
· The Spacecraft – controlled the telescope, provided power to the instruments, handled the scientific data and communicated with Earth.
· It is the final mission in NASA’s Great Observatories Program a family of 4 space-based observatories each observing the Universe in a different kind of light. · The other missions in the program include the visible-light Hubble Space Telescope (HST), Compton Gamma-Ray Observatory (CGRO), and the Chandra X-Ray Observatory (CXO).
· Spitzer continued to operate until 2020.
Spitzer Resurrection Mission · The innovation arm – SpaceWERX of the United States Space Force selected a startup Rhea Space Activity, to develop the Spitzer Resurrector Mission.
· The mission aims to send a spacecraft to Spitzer to service and restore its operation.
· This will act as a demonstration for the In-space Service Assembly and Manufacturing (ISAM) techniques.
· After its resurrection, the telescope will be used to detect and characterise the potentially hazardous Near Earth Objects (NEOs) and for other astronomical observations.
Context: The Spitzer Resurrection Mission will send a telerobotic space probe to bring the Spitzer space telescope back to life.
Incorrect
Solution (a)
Statement Analysis
Statement 1 Statement 2 Statement 3 Correct Correct Correct · Spitzer was designed to detect infrared radiation, which is primarily heat radiation. · It allows to peer into regions of space that are hidden from optical telescopes.
· It was launched in 2003 by NASA, U.S.
· It was comprised of two major components:
· The Cryogenic Telescope Assembly – contained the 85 centimeter telescope and Spitzer’s three scientific instruments.
· The Spacecraft – controlled the telescope, provided power to the instruments, handled the scientific data and communicated with Earth.
· It is the final mission in NASA’s Great Observatories Program a family of 4 space-based observatories each observing the Universe in a different kind of light. · The other missions in the program include the visible-light Hubble Space Telescope (HST), Compton Gamma-Ray Observatory (CGRO), and the Chandra X-Ray Observatory (CXO).
· Spitzer continued to operate until 2020.
Spitzer Resurrection Mission · The innovation arm – SpaceWERX of the United States Space Force selected a startup Rhea Space Activity, to develop the Spitzer Resurrector Mission.
· The mission aims to send a spacecraft to Spitzer to service and restore its operation.
· This will act as a demonstration for the In-space Service Assembly and Manufacturing (ISAM) techniques.
· After its resurrection, the telescope will be used to detect and characterise the potentially hazardous Near Earth Objects (NEOs) and for other astronomical observations.
Context: The Spitzer Resurrection Mission will send a telerobotic space probe to bring the Spitzer space telescope back to life.
-
Question 3 of 5
3. Question
Consider the following statements about Indian Renewable Energy Development Agency (IREDA)
- IREDA is a mini ratna company under the Ministry of New and Renewable Energy (MNRE).
- It gives financial support to specific projects and schemes for generating electricity through new and renewable sources.
Choose the incorrect statements:
Correct
Solution (d)
Statement Analysis
Statement 1 Statement 2 Correct Correct · IREDA is a mini ratna company under the Ministry of New and Renewable Energy (MNRE). · It was set up in 1987 as a specialized non-banking finance agency for the renewable energy sector
The main objectives of IREDA are : · To give financial support to specific projects and schemes for generating electricity and / or energy through new and renewable sources and conserving energy through energy efficiency.
· To maintain its position as a leading organization to provide efficient and effective financing in renewable energy and energy efficiency / conservation projects.
· To increase IREDA`s share in the renewable energy sector by way of innovative financing.
· Improvement in the efficiency of services provided to customers through continual improvement of systems, processes and resources.
· To strive to be competitive institution through customer satisfaction.
Context: The Ministry of Finance recently invited bids to select an advertising agency for listing and partial disinvestment in the Indian Renewable Energy Development Agency (IREDA).
Incorrect
Solution (d)
Statement Analysis
Statement 1 Statement 2 Correct Correct · IREDA is a mini ratna company under the Ministry of New and Renewable Energy (MNRE). · It was set up in 1987 as a specialized non-banking finance agency for the renewable energy sector
The main objectives of IREDA are : · To give financial support to specific projects and schemes for generating electricity and / or energy through new and renewable sources and conserving energy through energy efficiency.
· To maintain its position as a leading organization to provide efficient and effective financing in renewable energy and energy efficiency / conservation projects.
· To increase IREDA`s share in the renewable energy sector by way of innovative financing.
· Improvement in the efficiency of services provided to customers through continual improvement of systems, processes and resources.
· To strive to be competitive institution through customer satisfaction.
Context: The Ministry of Finance recently invited bids to select an advertising agency for listing and partial disinvestment in the Indian Renewable Energy Development Agency (IREDA).
-
Question 4 of 5
4. Question
Consider the following statements about Rasht-Astara Railway Project
- It is part of the International North-South Transport Corridor (INSTC).
- The project connects the Baltic Sea, Caspian Sea, Indian Ocean and the Black Sea.
Choose the correct statements:
Correct
Solution (a)
Statement Analysis
Statement 1 Statement 2 Correct Incorrect · Russia and Iran sign deal for railway corridor intended to rival Suez Canal. · Rasht-Astara railway is seen as an important link in the corridor, meant to connect India, Iran, Russia, Azerbaijan and other countries via railways and sea.
· The project is part of the International North-South Transport Corridor (INSTC).
· The 162km railway along the Caspian Sea coast would help to connect Russian ports on the Baltic Sea with Iranian ports in the Indian Ocean and the Gulf. 
Context: Recently, Russia and Iran have signed a deal to build an Iranian railway line, the Rasht-Astara railway as part of an International North–South Transport Corridor (INSTC).
Incorrect
Solution (a)
Statement Analysis
Statement 1 Statement 2 Correct Incorrect · Russia and Iran sign deal for railway corridor intended to rival Suez Canal. · Rasht-Astara railway is seen as an important link in the corridor, meant to connect India, Iran, Russia, Azerbaijan and other countries via railways and sea.
· The project is part of the International North-South Transport Corridor (INSTC).
· The 162km railway along the Caspian Sea coast would help to connect Russian ports on the Baltic Sea with Iranian ports in the Indian Ocean and the Gulf. Context: Recently, Russia and Iran have signed a deal to build an Iranian railway line, the Rasht-Astara railway as part of an International North–South Transport Corridor (INSTC).
-
Question 5 of 5
5. Question
The place Neh Pema Shelpu Drupkhang recently seen in news is located in which of the following state?
Correct
Solution (c)
Option c Correct Neh Pema Shelpu Drupkhang · It is located in Mechukha, Shi-Yomi district of Arunachal Pradesh.
· According to Buddhists, it is a Pilgrimage place, known as the meditation place of 6th rebirth of Guru Padma Samba, one of the founding fathers of Tibetan Buddhism in 749 A.D.
· According to Sikhism, it is a historic place which is associated with Guru Nanak, the founder of Sikhism.
· Recently, it was claimed to be converted into a Buddhist shrine by the local Buddhist Memba community.
Memba Community
· Memba tribal community is the third largest tribal community among the six Buddhist tribes of Arunachal Pradesh.
· Most of these tribal communities are scattered around the Eastern parts of Siang District, Arunachal Pradesh.
· Polygamy is prevalent where mainly women can have more than one husband.
Context: A 2-member team of the National Commission for Minorities (NCM) visited Mechukha in Arunachal Pradesh’s Shi-Yomi district
Incorrect
Solution (c)
Option c Correct Neh Pema Shelpu Drupkhang · It is located in Mechukha, Shi-Yomi district of Arunachal Pradesh.
· According to Buddhists, it is a Pilgrimage place, known as the meditation place of 6th rebirth of Guru Padma Samba, one of the founding fathers of Tibetan Buddhism in 749 A.D.
· According to Sikhism, it is a historic place which is associated with Guru Nanak, the founder of Sikhism.
· Recently, it was claimed to be converted into a Buddhist shrine by the local Buddhist Memba community.
Memba Community
· Memba tribal community is the third largest tribal community among the six Buddhist tribes of Arunachal Pradesh.
· Most of these tribal communities are scattered around the Eastern parts of Siang District, Arunachal Pradesh.
· Polygamy is prevalent where mainly women can have more than one husband.
Context: A 2-member team of the National Commission for Minorities (NCM) visited Mechukha in Arunachal Pradesh’s Shi-Yomi district
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